Solar Panel Cost Guide in Okeechobee, FL (2024 Update)
- Okeechobee Solar Installation Cost: $12,279
- 25-Year Savings: $23,601
- Payback Period: 9.2 Years
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Average Cost of Solar Panels in Okeechobee
We go over average solar pricing in Okeechobee.
The national average cost of solar panels is $2.66 per watt, but in Okeechobee it’s 3 per watt.Because a 5.5-kW system is needed to cover the energy consumption of a typical home in Okeechobee, the average price of going solar will be about $12,279 after claiming the federal solar tax credit of 0.
Keep in mind that the figures above are only estimates based on the average Okeechobee homeowner. The price of a solar system for your home may be different depending on factors unique to you, like your household energy use and solar contractor.But, once you've paid the upfront cost of installation, the payback for most homeowners is quite fruitful, with a net average savings of about $23,000 over 20 years on energy bills.
To receive a free estimate from a highly rated solar company in Okeechobee, you can click the button below.
Solar savings over time in Okeechobee
| Year | Return on Investment |
|---|---|
| 1 years | $-10,906 |
| 3 years | $-8,158 |
| 5 years | $-5,411 |
| 7 years | $-2,664 |
| 9 years | $83 |
| 11 years | $2,830 |
| 13 years | $5,578 |
| 15 years | $8,325 |
| 17 years | $11,072 |
| 19 years | $13,819 |
| 21 years | $16,567 |
| 23 years | $19,314 |
| 25 years | $22,061 |
Top Solar Installers in Okeechobee
DIY solar panel installation is a choice some homeowners opt for, but it's an undertaking that can take a lot of hard work. Hiring an installer can make switching to solar power much easier. Because solar panels are exposed to rain, snow, hail and wind, depending on the climate, warranties and repairs from your solar company can help you get the most out of your investment in solar panels by reducing potential costs down the line.
You can work with a local solar installer to get a free estimate on how much solar panels could cost for your home. Here are some near you:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
See all of the solar companies in Okeechobee
Factors that Affect Solar Panel Costs in Okeechobee
There are a number of criteria that can play into your solar system installation cost, such as the size of your system, the equipment you choose, your financing options and the specific company that installs your solar system.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more electricity your household consumes, the larger your system will likely need to be. You can expect to spend about $3,210 per kilowatt in Okeechobee.Some solar brands — like Maxeon from SunPower — are more expensive upfront but also tend to offer better efficiency. In a city like Okeechobee, where sunlight is abundant, efficiency can quickly pay off. In addition, if you have a small roof or you don’t have a lot of space for your panels, higher efficiency options will be a better option. Additional equipment like electric vehicle chargers and solar batteries will also increase the cost.
Solar Financing Terms
Most solar installers in Okeechobee provide solar loans, which reduce the initial cost of installing a solar system.However, the interest on solar loans also adds to your total costs, so it’s crucial to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
Finally, the company you opt for to install your solar panel system can play a role in determining the cost. Okeechobee’s solar companies all have different labor costs and add varying upcharges to equipment. The size of the company can sometimes play the most considerable role in your total costs. Larger national companies, like SunPro and Sunrun, often have lower pricing due to access to greater resources and better pricing. Smaller local companies might be more costly, but they can sometimes have better customer service and more customization options, and the occasional sale or promotion can bring their pricing down to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.34 | $14,021 | $22,516 | 9.6 years |
| 8 kW | $3.27 | $18,336 | $30,381 | 9.4 years |
| 10 kW | $3.21 | $22,470 | $38,426 | 9.2 years |
| 12 kW | $3.15 | $26,425 | $46,651 | 9.0 years |
| 14 kW | $3.08 | $30,200 | $55,055 | 8.9 years |
| 16 kW | $3.02 | $33,795 | $63,639 | 8.7 years |
| 18 kW | $2.95 | $37,210 | $72,403 | 8.5 years |
| 20 kW | $2.89 | $40,446 | $81,346 | 8.3 years |
How to Save on Solar Panels
The solar panel company you opt for will influence not only your overall costs, but also the types of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are some important things you should keep in mind, including:
- Installation Process: Get details from your solar installer about the installation process and what to expect, such as when the site survey will be completed and how long it will take.
- Reputation: Companies that have been in business for many years likely have a solid reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that cover replacement parts and repairs over a couple decades are the best you can get in the business, and offering such a warranty is one mark of a good company.
- Solar Panel Brands: Each solar panel brand and model offers varying levels of quality, longevity and energy efficiency. They will come at different price points as well. The company you choose affects which solar panel brands you have access to.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
EcoWatch's Okeechobee, FL Solar Cost FAQs
How much does it cost to install solar panels in Okeechobee?
This is a difficult question to answer precisely, because the cost depends on many factors. Generally speaking, it costs about $16,050 for a 5-kW system and $32,100 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have above-average energy usage. On the flip side, you can spend less if you choose a smaller solar panel system or cheaper solar panels.
Is it better to lease or buy solar panels in Okeechobee?
Leasing solar panels can be an appealing choice, as it typically comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better way to go if you want to get the most savings.
How will installing solar panels impact my home value?
Solar panels can increase the value of your property by about 4%, according to research done by Zillow. The average home value in Okeechobee is currently $260,041, which means you could be looking at a value of about $10,662 more than houses without a solar system. The exact figures will vary, but most experts agree that installing solar panels in Okeechobee is a fruitful investment.
How long do solar panels last in Okeechobee?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.